If all the return to a resource is economic rent, we know that
A) the price of the resource is below its opportunity cost.
B) the price of the resource equals its opportunity cost.
C) the price of the resource is above its opportunity cost.
D) the resource has no opportunity cost.
Correct Answer:
Verified
Q24: Suppose that Rihanna sells 1,000 tickets to
Q25: Pure economic rent involves situations where
A) the
Q26: If a factor of production with a
Q27: Supermodel Linda Evangelista has been quoted as
Q28: Economic rent is
A) the return to owners
Q30: The Hawaiian island of Lana'i is privately
Q31: Economic rent directs resources to
A) the people
Q32: The payment for the use of a
Q33: If land is reallocated or switched from
Q34: Economic rents are useful because
A) they increase
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents